Gold Bars are classified into two different types- casted and minted based on their manufacturing method. Where gold is measured in ounces, these are troy ounces, which is heavier than the avoirdupois ounce used for food
Good Delivery Bars
The gold industry relies greatly on refiners whose gold bars are accepted by associations and exchanges as wellbeing oratory for the settlement of transactions
The ground for this is that each association and exchange normally requires the specified welfare delivery bars, and the refiners operating from approved refineries, to meet a broad scale of criteria
The way furthermore generates confidence in the germane hawk that authorized refiners radius of other bars and products would besides be manufactured to the twin tall standard.
The most important list of refiners for the international gold hinder market is that published by the London Bullion Market Association (LBMA)
Known as The Good Delivery List of Acceptable Refiners: Gold for the settlement of transactions on the London Bullion Market, it records the spell of the major refiners around the cosmos that have met its stringent criteria for accreditation
Europe LBMA London Bullion Market Association Americas COMEX New York Mercantile Exchange (NYMEX) COMEX Division BM&F Brazilian Mercantile& Futures Exchange Sao Paulo Middle East DMCC Dubai Multi Commodities Centre IGE Istanbul Gold Exchange Far East TOCOM Tokyo Commodity Exchange SGE Shanghai Gold Exchange SHFE Shanghai Futures Exchange CG&SES The Chinese Gold &Silver Exchange Society Hong Kong
Each Association and Exchange specifies its retain liability and purity For LMBA the fineness is 995+ The LMBA publishes a record of Acceptable Refiners whose gold bars which weigh approximately 400oz (12.5g) are accepted as London Good Delivery. It further lists Former Melters and Assayers of Good Gold Delivery Bars